Client wishes to stay anonymous.

The Challenge

A Bank in Curaçao had ample cause for concern. The company lost more than 85 high revenue customers over a period of less than 3 years. Management did not have a system in place to determine why this was happening. They wanted clarity and quick action to prevent any further damage. What caused the clients to leave our bank and what can we do to stop it? 

The Solution

The Bank chose BridgeGaps BV to conduct a quantitative research study among the ex-clients. The research’s objective was to determine why these 85 customers decided to take their banking business elsewhere. Based on the outcome of the research the Bank wanted to identify the areas of improvement in the client experience to avoid additional client loss.

BridgeGaps BV proposed to interview all 85 ex-clients and worked with the Managing Directors of the Bank to get the contact details of these customers.

Results

After a thorough analysis of the quantitative (statistic valid) research results, BridgeGaps provided in depth clarity of the motives of the respondents. Based on the outcome, a customer service action plan to bridge the gaps in client experience was prepared. Part of this plan was the introduction of Customer Service Level agreements. The Bank has made major improvements in its client experience since then.